15:43 | 04/10/2018 Global Economy
The Thai economy continues to gain further traction from both domestic and external demand, the central bank of Thailand (BOT) said in its press release on economic and monetary conditions in August.
|A corner of Bangkok city, Thailand - Photo: Bangkokpost|
Private consumption expanded in most categories, while the value of merchandise exports expanded a growth of 5.8 percent from the same period last year. Excluding gold, the value of merchandise exports grew by 9.6 percent, and expanded in most product group.
In the reviewed period, public spending expanded from the disbursement for construction and purchase of machinery, as well as from the increased expenditure on goods and services for state agencies.
Besides, the number of foreign tourist arrivals in August rose 3 percent compared to the same period last year. This was mainly from the increase in the number of Malaysian tourists due to the Hari Raya Haji long holiday.
Moreover, the number of tourists from Hong Kong (China), Japan, and India continued to expand. However, the number of Chinese tourists contracted, due to the Phuket tour boat incident in July.